The land is located near state highway 29 and has previously been used for logging. The acquisition adds to Standard Lithium's existing land options in the Project area and provides added design flexibility as the company progresses the SWA Project to the Definitive Feasibility and FEED phase.

The SWA Project is located approximately 15 miles west of the City of Magnolia in southwestern Arkansas.

The project's Indicated and Inferred Mineral Resource of 1.4 Mt and 0.4 Mt lithium carbonate equivalent, respectively, has some of the highest reported lithium brine concentrations in North America, averaging above 400 mg/L. The recently announced results of a Preliminary Feasibility Study demonstrate robust economics, assuming production of at least 30,000 tonnes per year of battery-quality lithium hydroxide beginning in 2027.

Standard Lithium anticipates completing a FEED and Definitive Feasibility Study for the SWA Project in 2024 and beginning construction in 2025. The SWA Project is expected to reach commercial production in 2027, subject to continuing project definition, due diligence, project financing and receipt of future feasibility studies.

The company's other main project, Phase 1A, is also located in southern Arkansas and is the most advanced project in the company's portfolio. The project has a NI 43-101 Indicated Resource of 1.4 million tonnes of lithium carbonate equivalent and an Inferred Resource of 0.4 million tonnes of lithium carbonate equivalent. 

Standard Lithium is also exploring other opportunities in the United States and Canada. The company has a number of brine leases in Nevada and Utah, and it is also exploring the potential for lithium extraction from geothermal brines in California.